Small businesses are quite beneficial to the local community and country as a whole because they actually create new jobs. As a matter of fact, according to the SBA, or Small Business Administration, small businesses are responsible for employing over 50% of the United States working class. And in the UK small towns like Fleet, Hampshire are extremely enthusiastic about promoting local businesses and ‘slow travel’. With that said, we will now look at ways in which small businesses positively impact the local community.
1. Contribute to the Community’s Identity
If you walk on Main street, you will realise that your local community has its own identity and personality. For example, you’ll likely see lots of quirky coffee shops, dog grooming shops, yoga studios, mom and pop stores, etc. This clearly shows that these small businesses help to form a part of the local community’s personality or identity. There are actually lots of tourism boards and municipalities that focus on maintaining the identity of the local towns that small businesses help to create. We at ShopKeep are completely focused on helping business owners so that they can do well in this ever changing economy.
2. Get Involved in the Community
Next, many small businesses play an important role in their communities and they realise how everything they do affects the people in their community. As a result of this, most entrepreneurs and owners of these small businesses usually get quite involved in what is going on within the community, for example: business owners donating to the local shelter, sponsoring schools sport events, taking part in various charity events, giving money to local charities and so much more. The successful entrepreneurs and business owners even give talks at business centres, local colleges and even various technical institutes.
3. Benefit the Environment
Town centres that are very pedestrian friendly tend to have their own particular aura or vibe which positively impacts the environment. This is because the small businesses in the town centre usually work on reducing traffic and the use of vehicles. As a result, this has a positive impact on air quality and reduces overall pollution.
The majority of small businesses create jobs for locals. So, instead of locals having to travel to other cities or towns, they can instead work near to their home. Then, locals are more likely to support these local small businesses as it also helps their friends, family and other members of the community. So, once the local community has its own commercial town centre, this not only gives them new places to shop at and get food or drink at a local restaurant or bar, but also ensures that the members of the community have local jobs and the money made is also spent locally. This results in an even closer community.
Small businesses help to promote and support entrepreneurial ventures and spirit. This is absolutely essential because entrepreneurship is what drives the United States continuous prosperity and economy. It provides a way in which people can move from low paid jobs and improve their station in life.
6. Improves Innovation
It is no secret that in order for businesses to grow and be profitable, they need to stand out from the other businesses around them. They need to be better than competing businesses as well as serve a need in their community. Therefore, by having numerous small businesses continuously working towards being better and innovative, this will create a thriving marketplace where the customers truly benefit.
7. Requires less Maintenance and Infrastructure
Local businesses and stores need much less physical infrastructure when compared to chain stores or even shopping malls. To give an example, an entrepreneur that wants to open a music store will only need an occupancy permit and a business license. This is quite minimal in comparison to the opening of a large department store which would require significant planning, permissions, new infrastructure etc.
8. Unique and Locally Created Products
Small businesses boost the creation of unique products and services that are one of a kind. This attracts a lot of new customers and is especially good for tourism. They are also great for the locals who will be more likely to buy from local businesses and thus keep their money in the community.